Mainebiz

V O L . X X I X N O. X I I I J U N E 1 2 , 2 0 2 3 10 B U S I N E S S M A I N E B U S I N E S S M A I N E B U S I N E S S N E W S F RO M A RO U N D T H E S TAT E community. Of 11 semifinalists this year from Maine, the Quarry was the only one to make it to the finals, a rare honor in itself. N O T E W O R T H Y N O R T H E R N & E A S T E R N Katahdin Bankshares Corp., the par- ent company of Katahdin Trust Co. in Houlton, announced that it de- clared a cash dividend of 15.2 cents per share for the second quarter of 2023. The dividend, payable on June 23, 2023, to shareholders of record as of June 16, 2023, represents a 10.1% increase over last year's sec- ond quarter dividend. Take 2 Pizza opened at Hollywood Casino in Bangor. Versant Power said its crews en- ergized a new transformer at the University of Maine's east substation. The transformer, which crews have been working to install since early January, will facilitate load growth and reliability, ensuring new campus infrastructure can be carried on the campus electrical system. Mainebiz seeks to honor the young professional and rising stars of Maine's business community for our second NextUp: 40 Under Forty Awards. NOMINATE BY 7/21! MAINEBIZ .BIZ/NOMINATIONS Nominate an outstanding young Maine leader today! S PONS OR ED BY A S K AC E A n s w e r e d b y F r a n c i s E b e r l e , P r i c e A s s o c i a t e s The Association for Consulting Expertise (ACE) is a nonprofit association of independent consultants who value "Success through Collaboration." The public is welcome to attend its regular meetings to share best practices and engage with industry experts. For more information go to www.consultexpertise.com. Q: Do I need to be concerned about my team managers' or lead- ers' stability in the company? There seems to be a lot of concern about them in general, but ours seem fine. ACE advises: Stress and burnout can happen to anyone. A recent survey conducted by ExecOnline revealed that 72% of senior leaders feel burned out at work. Organizations often fail to intentionally develop their leaders and overlook the pressure on them. Rather than wait for them to ask, we suggest you take a proactive approach. When leaders grow, it can drive the success and engage- ment of employees. They develop people, drive change, inspire others and communicate clearly. Support for leaders' growth can include initiatives both inside and outside of the organization. Incentives: Rewards, not just monetary. Celebrations. Advancement and learning opportunities. Internal mentoring and coaching or external community service opportunities. Teams: Attention to quality and frequency of team connec- tions. Teamwork roadmaps. Team performance measures. Encouraging a growth mindset. Retreats: Opportunities for lead- ers and people to interact, learn and have some fun. Align them with company goals. Coaching: Internal and exter- nal coaches can help leaders clear their minds and focus on what is most important. Find time for strategic thinking. Increase their effectiveness with their team. Training: In person, hybrid, and virtual training is available. Find those that align with your organization's goals and reasonably accomplish what you want in the allotted time. With high expectations of managers, the support will be welcomed. Meaningful leadership development can be the difference between success and failure for them and your organization. ACE board member Francis Eberle, of Price Associates, is a leadership and organizational advisor, speaker and author who believes that people development is business development. He can be reached at francis@price-associates.com

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